$AVAX Approaches Key Support What's Next for Avalanche? #Avalanche ( $AVAX ) is trading at $38.55, down 11.72%, after reaching a high of $44.04. The sharp decline reflects growing bearish momentum, with critical levels now in focus.
Key Levels to Watch:
1. Support Zone:
$38.00: Immediate support level. If this holds, a bounce could follow.
$37.00: The next key support if bearish pressure persists.
2. Resistance Levels:
$40.00: The first hurdle for bulls to reclaim.
$42.50: A strong resistance level to watch for sustained bullish momentum.
Trade Setup:
Long Trade:
Entry: Above $39.00
Targets: $40.50, $42.50
Stop-Loss: $37.80
Short Trade:
Entry: Below $38.00
Targets: $37.00, $35.50
Stop-Loss: $39.00
Market Insight: The current sell-off shows increased market volatility as traders react to bearish sentiment. Volume spikes suggest heightened activity, making this a crucial moment to plan trades carefully.
Stay sharp and disciplined opportunities are ripe, but risk management is key....